The CPhI Worldwide annual summary warns that US trade laws still show too much favour for big pharma
One of its authors, Dilip Shah, CEO at Vision Consulting Group warns that the reauthorisation of the Trade Priorities and Accountability Act of 2015 will fast track the mega trade agreements that are poised to have the unwanted effect of significantly slowing global access to generics.
The implication is that these changes are being put in place to benefit big pharma at the expense of patients, generics companies and healthcare bodies. He predicts that as soon as 2017 we will begin seeing a slow down in the generics market, with the full impact of these ‘mega trade deals’ being felt in 2020.
The most notable effect will be a reduction in generic competition, an increased ability for pharma to dictate prices in emerging markets and an easier process of patent extension.
Shah said: “If the TPPA is signed in 2015, it would begin from 11 Pacific Rim countries and accelerate with the conclusion of TTIP in 2016. The decline will extend to the US and 28 EU countries, besides members of NAFTA and EFTA. The full-blown impact of these mega trade deals will be felt by 2020”.